Wee Hur buys office building, land in Brisbane for A$63 million

WEE Hur Holdings on Thursday said that it has bought an office building and an adjoining piece of land in Brisbane, Australia, for A$63 million (S$64.2 million).

The property - with a net lettable area of about 14,000 square metres - is found in the Central Business District of Brisbane, and is currently fully leased to the Queensland state government for rental income.

Wee Hur said that the property has "excellent redevelopment potential for multiple uses". It is within 10 minutes' walking distance to King George Square Station, Roma Street Station and Central Station.

The adjoining piece of land is found along Turbot Street, and is currently vacant.

Wee Hur will fund the cash purchase through internal resources and bank borrowings.